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Economic Growth

Summary

GDP – Q1 2025

 

Gross Domestic Product  – Q1 2025

According to the latest estimates issued by the General Authority for Statistics, real Gross Domestic Product (GDP) in Saudi Arabia increased by 3.4% in the first quarter of 2025 compared to the same quarter of 2024. On a quarterly basis, the seasonally adjusted real GDP grew by 1.1% compared to Q4 2024.

Non-oil activities showed a strong performance, recording a 4.9% growth year-on-year (Y-o-Y), and 1.0% quarter-on-quarter (Q-o-Q). Government activities grew by 3.2% Y-o-Y and 5.5% Q-o-Q. On the other hand, oil activities declined by 0.5% Y-o-Y and 1.2%Q-o-Q.

Most economic sectors recorded positive annual growth. The highest growth was observed in wholesale and retail trade, restaurants, and hotels activities, which increased by 8.4% Y-o-Y and 0.7% Q-o-Q. This was followed by transport, storage, and communication activities, which grew by 6.0%Y-o-Y and 1.8% Q-o-Q. Additionally, financial, insurance, and business services recorded a Y-o-Y growth of 5.5%, despite a slight Q-o-Q decline of 0.1%.

In terms of contribution to overall GDP growth, non-oil activities were the primary driver, contributing 2.8 percentage points (PP). Government activities and net taxes on products also contributed positively, by 0.5 PP and 0.2 PP respectively. Conversely, oil activities negatively impacted GDP growth, reducing it by 0.1 PP.

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Other Indicators

Economic Indices

 Insights

Purchasing Managers Index (PMI)

Saudi Riyal icon
55.8

 points

%

Definition

The Purchasing Managers Index (PMI) highlights monthly supply and demand trends.

Last Update

May 2025

Frequency

Monthly

Frequency: 

Monthly

Consumer Price Index (CPI)

Saudi Riyal icon
2.2

 points

%

Definition

The Consumer Price Index (CPI) presents the percentage change in prices that consumers pay for goods and services.

Last Update

May 2025

Frequency

Monthly

Frequency: 

Monthly

Industrial Production Index

Saudi Riyal icon
3.1

 points

%

Definition

The Industrial Production Index (IPI) is a statistical measure used to track the level of production in an economy's industrial sector, including manufacturing, mining, and electricity generation. It provides insight into the performance and growth of the industrial economy and helps policymakers, economists, and investors assess economic activity.

Last Update

April 2025

Frequency

Monthly

Frequency: 

Monthly

Wholesale Price Index (WPI)

Saudi Riyal icon
2.0

 points

%

Definition

A wholesale price index (WPI) measures change in the overall price of goods before they are sold at retail.

Last Update

May 2025

Frequency

Monthly

Frequency: 

Monthly

Real Estate Price Index

Saudi Riyal icon
4.3

 points

%

Definition

Last Update

Q1 2025

Frequency

Quarterly

Frequency: 

Quarterly

Labor Market

 Insights

Saudi Unemployment

Saudi Riyal icon
6.3

 points

%

Definition

Unemployment is a key indicator of economic health that occurs when individuals who are actively seeking work are unable to find employment.

Last Update

Q1 2025

Frequency

Quarterly

Frequency: 

Quarterly

Saudi Labor Force Participation

Saudi Riyal icon
51.3

 points

%

Definition

The labor force participation rate is an estimate of an economy’s active workforce. Saudi Labor Force Participation = Total average Saudi work force (females and males above 15 years / Saudi population).

Last Update

Q1 2025

Frequency

Quarterly

Frequency: 

Quarterly

Non-saudi labor force participation

Saudi Riyal icon
82.7

 points

%

Definition

The labor force participation rate is an estimate of an economy’s active workforce. Non Saudi Labor Force Participation = Total average non Saudi work force (females and males above 15 years / Non-Saudi population).

Last Update

Q1 2025

Frequency

Quarterly

Frequency: 

Quarterly

Trade Balance

Saudi Riyal icon
14,170M

 points

%

Definition

Trade balance is the difference between the value of a country's exports and the value of a country's imports.

Last Update

April 2025

Frequency

Monthly

Frequency: 

Monthly

Goods imports

Saudi Riyal icon
76,148M

 points

%

Definition

An import is a product or service that is produced in one country and purchased in another.

Last Update

April 2025

Frequency

Monthly

Frequency: 

Monthly

Goods exports

Saudi Riyal icon
90,318M

 points

%

Definition

Exports are goods and services manufactured or provided by businesses in one country and sold or traded in another.

Last Update

April 2025

Frequency

Monthly

Frequency: 

Monthly

Foreign Direct Investments

 Insights

Foreign Direct Investment (FDI) Net flow

Saudi Riyal icon
22,248M

 points

%

Definition

FDI in Saudi Arabia is the process by which non-Saudi investors establish or acquire business operations in the Kingdom, either by setting up new enterprises, acquiring stakes in existing companies, or forming joint ventures with local entities. These investments are aimed at long-term participation and management involvement in the Saudi market.

Last Update

Q1 2025

Frequency

Quarterly

Frequency: 

Quarterly

Notes: MoM: Month over Month, QoQ: Quarter over Quarter, YOY: Year over Year.
Source: GSTAT, SAMA

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